Company Registration No. 9963663 (England and Wales)
JCB AND SON LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2020
PAGES FOR FILING WITH REGISTRAR
JCB AND SON LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
JCB AND SON LTD
BALANCE SHEET
AS AT
31 JANUARY 2020
31 January 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Tangible assets
2
21,895
29,194
Current assets
Stock and work in progress
900
1,010
Debtors
3
69,547
88,335
Cash at bank and in hand
80,825
150,112
151,272
239,457
Creditors: amounts falling due within one year
4
(78,998)
(193,967)
Net current assets
72,274
45,490
Total assets less current liabilities
94,169
74,684
Capital and reserves
Called up share capital
5
1
1
Profit and loss reserves
94,168
74,683
Total equity
94,169
74,684
The director of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 January 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and signed by the director and authorised for issue on 1 October 2020
J C Buckland
Director
Company Registration No. 9963663
JCB AND SON LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2020
- 2 -
1
Accounting policies
Company information
JCB AND SON LTD is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
12 Old Ford Avenue, Southam, Warwickshire, CV47 0LH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Stocks
Stocks
are stated at the lower of cost and
estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.5
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
JCB AND SON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2020
- 3 -
2
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2019 and 31 January 2020
42,600
Depreciation and impairment
At 1 February 2019
13,406
Depreciation charged in the year
7,299
At 31 January 2020
20,705
Carrying amount
At 31 January 2020
21,895
At 31 January 2019
29,194
3
Debtors
2020
2019
Amounts falling due within one year:
£
£
Trade debtors
69,547
88,335
4
Creditors: amounts falling due within one year
2020
2019
£
£
Trade creditors
41,837
161,113
Corporation tax
17,073
13,815
Other taxation and social security
18,665
16,316
Other creditors
1,423
2,723
78,998
193,967
5
Called up share capital
2020
2019
£
£
Ordinary share capital
Authorised
200 Ordinary shares of 50p each
100
100
Issued and fully paid
2 Ordinary shares of 50p each
1
1
JCB AND SON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2020
(Continued)
- 4 -